Business Services Industry
Coors, Molson in merger talks.
Knight Ridder/Tribune Business News, July, 2004
By Tom Daykin, Milwaukee Journal Sentinel Knight Ridder/Tribune Business News
Jul. 20--Adolph Coors Co. and Canada's No. 1 brewer Molson Inc. confirmed Monday that they're in advanced merger discussions -- which could bring about a border-straddling powerhouse to better compete with Milwaukee-based Miller Brewing Co.
A merger announcement could be made in the near future, the companies said in a joint statement, which was issued in response to published reports of the talks. The statement also said those talks could fall apart.
If Coors, the No. 3 U.S. brewer, and Molson join forces, the combined company could cut production costs, while also gaining greater leverage to raise beer prices, said Yolanda Holtzee, co-manager of the ALCAP...
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